Olin (NYSE:OLN) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Olin (NYSE:OLN - Free Report) had its target price upped by Wells Fargo & Company from $19.00 to $22.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company's stock.

A number of other research analysts have also issued reports on the stock. Bank of America upgraded shares of Olin from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $48.00 to $40.00 in a report on Tuesday, January 14th. Piper Sandler dropped their price objective on Olin from $33.00 to $26.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Morgan Stanley decreased their target price on Olin from $31.00 to $28.00 and set an "underweight" rating for the company in a research note on Tuesday, February 4th. Citigroup dropped their price target on Olin from $34.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Finally, Mizuho set a $23.00 price objective on Olin in a research report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $28.60.

Olin Stock Down 0.4 %

Shares of OLN stock traded down $0.09 on Tuesday, hitting $21.32. The company's stock had a trading volume of 1,214,392 shares, compared to its average volume of 1,586,480. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.27 and a quick ratio of 0.77. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 23.69 and a beta of 1.56. Olin has a fifty-two week low of $17.66 and a fifty-two week high of $57.10. The firm's fifty day moving average price is $22.47 and its 200-day moving average price is $30.71.

Olin (NYSE:OLN - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The specialty chemicals company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of ($0.10) by $0.14. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.58 billion. Olin had a return on equity of 5.10% and a net margin of 1.66%. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 EPS. Research analysts anticipate that Olin will post 1.38 EPS for the current year.

Olin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Thursday, May 15th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.75%. Olin's payout ratio is presently 156.86%.

Institutional Trading of Olin

Institutional investors have recently bought and sold shares of the stock. Covestor Ltd boosted its stake in shares of Olin by 45.8% in the 4th quarter. Covestor Ltd now owns 1,334 shares of the specialty chemicals company's stock valued at $45,000 after purchasing an additional 419 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in Olin by 9.4% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 5,833 shares of the specialty chemicals company's stock valued at $197,000 after buying an additional 500 shares in the last quarter. Connable Office Inc. grew its stake in Olin by 9.3% during the fourth quarter. Connable Office Inc. now owns 6,207 shares of the specialty chemicals company's stock worth $210,000 after buying an additional 527 shares during the last quarter. First Citizens Bank & Trust Co. increased its holdings in shares of Olin by 8.5% during the fourth quarter. First Citizens Bank & Trust Co. now owns 6,930 shares of the specialty chemicals company's stock worth $234,000 after buying an additional 542 shares in the last quarter. Finally, Vestcor Inc raised its stake in shares of Olin by 4.6% in the first quarter. Vestcor Inc now owns 12,630 shares of the specialty chemicals company's stock valued at $306,000 after acquiring an additional 558 shares during the last quarter. Institutional investors and hedge funds own 88.67% of the company's stock.

Olin Company Profile

Olin Corporation manufactures and distributes chemical products in the United States, Europe, Asia Pacific, Latin America, and Canada. It operates through three segments: Chlor Alkali Products and Vinyls; Epoxy; and Winchester. The Chlor Alkali Products and Vinyls segment offers chlorine and caustic soda, ethylene dichloride and vinyl chloride monomers, methyl chloride, methylene chloride, chloroform, carbon tetrachloride, perchloroethylene, hydrochloric acid, hydrogen, bleach products, potassium hydroxide, and chlorinated organics intermediates and solvents.